topic Re: Foreign transaction fee on WF Propel? in Credit Cards

Foreign transaction fee on WF Propel?

Anonymous — Sun, 09 Dec 2018 22:57:59 GMT

I thought it has none, but when I read the term, it says "no foreign currency conversion fee", it doesn't say anything about foreign transaction fee.

I will be travling to Mexico soon, anybody know if its safe to use this card without incurring foreign transaction fee?

Re: Foreign transaction fee on WF Propel?

Remedios — Sun, 09 Dec 2018 23:05:08 GMT

@Anonymous wrote:
I thought it has none, but when I read the term, it says "no foreign currency conversion fee", it doesn't say anything about foreign transaction fee.

I will be travling to Mexico soon, anybody know if its safe to use this card without incurring foreign transaction fee?

Same thing, different term. There is not one with Propel.

Re: Foreign transaction fee on WF Propel?

Anonymous — Sun, 09 Dec 2018 23:08:42 GMT

Just want to confirm this, because nerdwallet's article got me confused.

https://www.nerdwallet.com/blog/credit-cards/foreign-transaction-vs-currency-conversion-fees-difference/

Re: Foreign transaction fee on WF Propel?

MidnightKnight — Sun, 09 Dec 2018 23:14:21 GMT

I just pulled up a page about the Propel, it says "No Foreign currency conversion fee/ Foreign Transaction fee." Seems like they use it interchangeably. Also as a side note, I've constantly read or heard that Mastercard has the best exchange rate most of the time so if you had a MasterCard with no foreign transaction fee I would use that one instead if it has better rewards.

Re: Foreign transaction fee on WF Propel?

Remedios — Sun, 09 Dec 2018 23:13:55 GMT

They are two different things, but Propel has neither

I should have been clearer

Re: Foreign transaction fee on WF Propel?

Anonymous — Sun, 09 Dec 2018 23:18:33 GMT

Thanks. Unfortnately, only mastercard cards I have are CIti DC and Cap 1 Platinum, they all have foreign transaction fee.

@MidnightKnight wrote:
I just pulled up a page about the Propel, it says no "Foreign currency conversion fee/ Foreign Transaction fee." Seems like they use it interchangeably. Also as a side note, I've constantly read or heard that Mastercard has the best exchange rate most of the time so if you had a MasterCard with no foreign transaction fee I would use that one instead.

Re: Foreign transaction fee on WF Propel?

Remedios — Sun, 09 Dec 2018 23:28:24 GMT

Cap1 platinum does not have FTF

Have you tried PC from Platinum to Quicksilver?

Re: Foreign transaction fee on WF Propel?

Anonymous — Mon, 10 Dec 2018 00:10:32 GMT

@Remedios wrote:
Cap1 platinum does not have FTF
Have you tried PC from Platinum to Quicksilver?

This is actually a very complex issue. Although my card is a cap 1 platinum, it is actually an inherited card from an old bank (household bank). Before Cap1 took over, the household card had a 2% cash back. This has been changed to 1.5% afterward, still with no AF. So, PC to QS doesn't do anything for me.

Btw, thanks for the foreign transaction fee info, I have requested a card member agreement for my Platinum and see if it that is the case with this card.

Re: Foreign transaction fee on WF Propel?

UncleB — Mon, 10 Dec 2018 00:16:22 GMT

@Anonymous wrote:
@Remedios wrote:
Cap1 platinum does not have FTF
Have you tried PC from Platinum to Quicksilver?
This is actually a very complex issue. Although my card is a cap 1 platinum, it is actually an inherited card from an old bank (household bank). Before Cap1 took over, the household card had a 2% cash back. This has been changed to 1.5% afterward, still with no AF. So, PC to QS doesn't do anything for me.

Btw, thanks for the foreign transaction fee info, I have requested a card member agreement for my Platinum and see if it that is the case with this card.

Double-check your agreement to be certain, but I don't think any Capital One card has foreign transaction fees these days... even cards that came from other banks.

Re: Foreign transaction fee on WF Propel?

Gmood1 — Mon, 10 Dec 2018 01:50:19 GMT

I used my Propel in Guatemala recently. Also used it with Uber down there once. There wasn't a fee for using it.
We used the USAA Limitless the most. Not a single issue using it outside of the country. Too bad this one isn't offered anymore. Truly one of the best credit cards on the planet IMHO.

Discover doesn't have a FTF either. Unfortunately, no one seems to accept it in that part of the world. lol

Re: Foreign transaction fee on WF Propel?

Anonymous — Mon, 10 Dec 2018 03:26:10 GMT

@MidnightKnight wrote:
I just pulled up a page about the Propel, it says "No Foreign currency conversion fee/ Foreign Transaction fee." Seems like they use it interchangeably. Also as a side note, I've constantly read or heard that Mastercard has the best exchange rate most of the time so if you had a MasterCard with no foreign transaction fee I would use that one instead if it has better rewards.

Now I'm confused! I get FTF, but I thought foreign currency conversion was a function of selecting DCC and had nothing to do with the card (the merchant uses a highly unfavorable exchange rate and charges the card in $). Do some cards add on an extra fee for that (which seems odd, as the charge is in dollars so nothing to convert!)

Re: Foreign transaction fee on WF Propel?

UncleB — Mon, 10 Dec 2018 03:49:26 GMT

@Anonymous wrote:
@MidnightKnight wrote:
I just pulled up a page about the Propel, it says "No Foreign currency conversion fee/ Foreign Transaction fee." Seems like they use it interchangeably. Also as a side note, I've constantly read or heard that Mastercard has the best exchange rate most of the time so if you had a MasterCard with no foreign transaction fee I would use that one instead if it has better rewards.
Now I'm confused! I get FTF, but I thought foreign currency conversion was a function of selecting DCC and had nothing to do with the card (the merchant uses a highly unfavorable exchange rate and charges the card in $). Do some cards add on an extra fee for that (which seems odd, as the charge is in dollars so nothing to convert!)

I'm speaking a bit out of my element, but doesn't American Express disallow DCC at the network level?

If so, that would make this this a moot point for the Propel.

Re: Foreign transaction fee on WF Propel?

Anonymous — Mon, 10 Dec 2018 11:52:51 GMT

@Gmood1 wrote:
I used my Propel in Guatemala recently. Also used it with Uber down there once. There wasn't a fee for using it.
We used the USAA Limitless the most. Not a single issue using it outside of the country. Too bad this one isn't offered anymore. Truly one of the best credit cards on the planet IMHO.

Discover doesn't have a FTF either. Unfortunately, no one seems to accept it in that part of the world. lol

We were able to use Discover It last time we were in CDMX, not everywhere, just some large chain restraurants (sanborns).

Discover used to be working better than others in China with UnionPay alliance, but I heard their new chip tech doesn't work with most POS terminals now.